The Central Bank of Nigeria, CBN, said it recorded N400.46 billion as net operating income for the full year 2017. The result showed a 38.8 percent decrease below the N654.87 recorded in 2016. The decrease in net operating income was as a result of fair value loss on financial instruments. […]
The statistics office of Africa’s largest economy, the National Bureau of Statistics that inflation in the month of July fell to 11.14 percent (year-on-year) in July 2018. The NBS said the data is 0.09 percent points less than the rate recorded in June 2018 (11.23) percent and represents an eighteenth […]
The Nigerian Stock Exchange, NSE said it has suspended trading in the shares of Conoil PLc. The NSE said in a statement that: Dealing members are hereby notified that pursuant to Rule 3.1, Rules for Filing of Accounts and Treatment of Default Filing, Rulebook of The Exchange, which provides that; […]
Ghana’s Central Bank, The Bank of Ghana said it has withdrawn the operating licenses of five lenders to prevent them from imminent collapse. The apex bank said the banks affected by the action are uniBank Ghana Limited, The Royal Bank Limited, Beige Bank Limited, Sovereign Bank Limited, and Construction Bank […]
Nigeria’s apex bank, the Central Bank of Nigeria, CBN, has kept the interest rate at 14%. The CBN’s monthly monetary policy committee which made the decision shortly said it is not reducing the rate due to various macroeconomic indices which showed that Nigeria’s economic recovery is still fragile. The incoming […]
The Nigerian Stock Exchange has just released guidelines for its 2018 NSE Essay Competition. The topic for the 2018 NSE Essay Competition is “Discuss how technology can promote financial literacy and encourage investment habit among youths?” The NSE said in a statement that the 2018 edition aims to bring the […]
The Distillers and Blenders Association of Nigeria, DIBAN has condemned the new ”astronomical increase” in excise duty being imposed on domestic wines and spirits. In a statement made available to PageOne.ng, the Chairman of DIBAN, Chief Patrick Anegbe told newsmen on Wednesday in Lagos, that the hike was a threat […]
Nigeria’s President Muhammadu Buhari has just submitted a supplementary budget to the National Assembly totaling $750 million. Africa’s largest economy had passed a total of N9.12 trillion for the year 2018 (approximately $29.92 billion). According to Reuters, The new supplementary budget includes 164 billion naira to prepare for the 2019 […]
President Muhammadu Buhari of Nigeria said he will soon sign the African free-trade agreement, AfTA. Nigeria’s President refused to sign the African free-trade agreement very close to the signing ceremony after the country raised concerns on the impact of the agreement on Nigeria’s domestic economy. President Buhari said in a […]
Nigeria’s Securities and Exchange Commission, SEC, said MTN Nigeria has not filed papers for its initial public offering, IPO. It would be recalled that MTN was reported last week to have finalised all its plans for the IPO in August so far as it gets a go-ahead from the SEC. […]